Mortgage Lenders In San Francisco

Written by Liza Hartung

San Francisco is a gorgeous place to live. There are plenty of cozy communities in this great city. Their school systems uphold high standards and it's a very liberal place. The University of California at Berkeley is housed near here. Those who live in San Francisco are close to the beach as well as the mountains for perfect winter skiing. The only thing standing between you and getting your dream San Francisco home is a mortgage.

Anyone who has ever bought a home knows that finding a mortgage lender is perhaps the least exciting of all the steps you have to take. It is, unfortunately, necessary for the majority of people. However, it doesn't have to be painful if you follow a few key rules. Before you begin scouting out any mortgage lender, you will need to create a budget for yourself. This will assist both you and the lender.

Creating Your Budget

Write down all earnings. Next, write down all your necessary payments. These include bills, debt payments, car insurance, food, gas for your car and anything else you consider a necessity. When you have finished that, start making a list of the money you spend on non-necessity items. These are things such as dining out, buying books, clothes, movies and anything dealing with entertainment.

Once you have this all figured out, you can then set a reasonable budget for your mortgage and thus the houses you can afford. If you want to be able to look at homes slightly higher than your budget, you will need to cut back on a few things. Don't go out to dinner as often. Bring your own popcorn to the movies. There are hundreds of ways you can cut back. Sometimes, the best idea is to spend time looking for a mortgage that has lower interest rates. If you can secure low rates, it is best to get a fixed rate mortgage, rather than an adjustable rate mortgage, because even if rates go up, yours won't. You can then consider that as extra money in your pocket to spend or to put towards your principle.